Reynolds Sticking With Viacom

The television chief, who previously resigned, will go with Moonves to CBS.
Author:
Publish date:

Viacom

(VIA) - Get Report

executive Fred Reynolds has decided to stay put in an expanded role at the new CBS Corp.

Reynolds resigned his position as president of the Viacom Television Stations Group last month and was set to join private equity firm Evercore Partners.

Incoming CBS chief executive Leslie Moonves, currently co-chief operating officer of Viacom, wooed Reynolds to the new company, where he will assume the title of chief financial officer once parent Viacom is split in two.

A company statement says Reynolds will assume responsibility for all financial operations of the new CBS, in the interim working with Moonves on the process that will create the new company.

The company says that a new head of the Television Stations Group to succeed Reynolds will be named at a later date. Dennis Swanson, a longtime broadcaster, and currently chief operating officer at the stations group, is in line for the position.

"Thanks to

Moonves' patience and persistence, I am extremely pleased to return to the company I love," said Reynolds in a statement. "The opportunities and challenges are incredibly exciting as I join my partners and friends to embark on creating the new CBS Corp. -- which I believe will be an unparalleled broadcasting and media powerhouse."

Separately, at

News Corp.

(NWS) - Get Report

, Fox News Channel chairman Roger Ailes will take control of the media company's television station group as shairman of Fox Television Stations. Ailes will also oversee Twentieth Television, the company's first-run programming syndication and distribution arm.

Ailes is credited with building up the Fox News Channel over the last several years into a cable network juggernaut. The stations group was run by News Corp. heir Lachlan Murdoch until he recently left the company to return to Australia.

Fox Television Stations chief executive Jack Abernathy will report to Ailes, who will report to News Corp chairman Rupert Murdoch and to chief operating officer Peter Chernin.

News Corp owns 35 TV stations in the U.S., and Viacom consists of 40 stations.